Essential Energy Services (TSX:ESN) Long-Term Capital Lease Obligation : C$4.4 Mil (As of Jun. 2023)

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What is Essential Energy Services Long-Term Capital Lease Obligation?

Essential Energy Services's Long-Term Capital Lease Obligation for the quarter that ended in Jun. 2023 was C$4.4 Mil.

Essential Energy Services's quarterly Long-Term Capital Lease Obligation declined from Dec. 2022 (C$5.5 Mil) to Mar. 2023 (C$5.0 Mil) and declined from Mar. 2023 (C$5.0 Mil) to Jun. 2023 (C$4.4 Mil).

Essential Energy Services's annual Long-Term Capital Lease Obligation declined from Dec. 2020 (C$7.8 Mil) to Dec. 2021 (C$6.6 Mil) and declined from Dec. 2021 (C$6.6 Mil) to Dec. 2022 (C$5.5 Mil).

Essential Energy Services Long-Term Capital Lease Obligation Historical Data

The historical data trend for Essential Energy Services's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Essential Energy Services Long-Term Capital Lease Obligation Chart

Essential Energy Services Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Long-Term Capital Lease Obligation

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2.82

12.15

7.80

6.62

5.54

Essential Energy Services Quarterly Data
	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															5.44	4.38	5.54	5.05	4.45

Essential Energy Services (TSX:ESN) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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Essential Energy Services (TSX:ESN) Business Description

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Address

250 - 2nd Street SW, Suite 1100, Livingston Place West, Calgary, AB, CAN, T2P 0C1

Website

https://www.essentialenergy.ca

Essential Energy Services Ltd provides oilfield services to oil and natural gas producers, primarily in Western Canada. It operates through two segments: The Essential Coil Well Service segment provides completion, production, and workover services with its fleet of coiled tubing rigs, fluid pumpers, nitrogen pumpers, and ancillary equipment. Tryton segment provides downhole tools and rental services in Canada and the U.S. The majority of revenue is from the ECWS segment.

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